Is Final Expense Insurance Worth It?

Life insurance comes in several different forms. Most people purchase a life insurance policy to be able to provide for loved ones when you’re not able. Expenses like college and mortgages still continue once you have passed on. Even if these expenses are not a concern for you anymore, there’s still a big expense that can’t be ignored. The cost of your funeral and burial. This is what final expense insurance is designed for.

What is Final Expense Insurance?

Final expense insurance is a type of permanent life insurance. It is not aimed at providing a living for those left behind. Its purpose is to provide coverage for end of life expenses like medical bills and funeral costs. This can cover things like casket and hearse, headstone, cremation fees and the cost of a service.

A permanent life insurance policy is one that does not expire as long as the premiums are paid. Unlike term life insurance, which is cheaper but has a set expiration date, a permanent policy carries a cash value. This value builds up during the life of the policy and is generally paid out upon your death. After a certain amount of time, you may be able to cash out the plan.

Final expense insurance has some commonalities with guaranteed life insurance. While traditional life insurance requires a full background of your health, often including a physical exam, a guaranteed insurance policy is usually granted after just answering a few questions.

The Benefits of Final Expense Insurance

Final expense insurance may not be for everyone, but it does have certain perks. One of the biggest benefits is that it may be more affordable than a traditional life insurance policy. It may not carry as much value as other insurance. However, if your only needs are to provide for your end of life, it can often be enough to cover all those expenses.

There’s also a certain peace of mind in knowing that your funeral costs will be covered no matter what. With other insurance policies, your dependents will also be using that money to cover daily living expenses and have to pay for a funeral on top of that.

Cautions of Final Expense Insurance

The average cost of a funeral is about $8,000 dollars, but that just covers the actual funeral itself. Other things like a headstone, cremation, burial plot or medical expenses can add up to a whole lot more. Final expense insurance offers smaller coverage than other types of insurance. Plans usually range to upwards of $25,000 for the more expensive plans. It’s worth considering whether or not this will provide enough value for the investment.

Depending on financial ability, there are other more affordable ways to get a typical life insurance policy in relation to the level of coverage that policy provides. In fact, even traditional investing can provide more value because those investments can yield financial returns.

Final expense insurance is meant to pay for funeral and other end of life costs. However, the policy beneficiary isn’t actually required to use the money for that purpose. Before purchasing final expense insurance, you should ensure that you have a trusted beneficiary to take care of your wishes after you pass.

Alternative Options to Final Expense Insurance

Self-Funding

If your retirement planning has provided enough resources for your financial independence, it is likely that you will have enough cash to cover your own funeral and other expenses. However, this usually takes decades of planning and isn’t feasible as a last resort option.

Traditional Life Insurance

This is a good option if you’re relatively healthy and young and is offered by most health insurance companies. This usually requires a medical exam to ensure that you’re healthy enough to insure, and that can be a barrier if you’re in poor health. However, if you qualify, traditional life insurance is often far more affordable than final expense insurance.

Guaranteed Issue Life Insurance

This type of insurance has the most in common with final expense insurance. It relies much less on your medical and health history. Therefore, coverage usually comes much more quickly but the monthly premiums are generally more expensive than traditional life insurance.

So, Is Final Expense Insurance Worth it?

Final expense insurance can be a great way to make sure that you have the ability to cover all the costs associated with your end of life. It can remove a burden from your loved ones after you pass and make a difficult time a little bit easier.

There are the other options that should be explored in addition to final expense insurance. Other insurance options may offer more affordable monthly payments in exchange for a larger payout. However, if you’re in a position that requires a short-term option, then final expense insurance can be the fit for you.

No matter what, it’s worth taking the time to talk with a trusted insurance advisor. They can go over all of your options and find what works best for you.

Terms of Services

Last Update 07 Feb, 2019

We've tried our best to make this as easy to read in laymens terms while also keeping our legal team happy. Please read our terms of service below.

1. Terms

By accessing the website at http://lifeinsurancecompanion.com, you are agreeing to be bound by these terms of service, all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these terms, you are prohibited from using or accessing this site. The materials contained in this website are protected by applicable copyright and trademark law.

2. Use License

Permission is granted to temporarily download one copy of the materials (information or software) on Cege Media 's website for personal, non-commercial transitory viewing only. This is the grant of a license, not a transfer of title, and under this license you may not:

modify or copy the materials;

use the materials for any commercial purpose, or for any public display (commercial or non-commercial);

remove any copyright or other proprietary notations from the materials; or

transfer the materials to another person or "mirror" the materials on any other server.

This license shall automatically terminate if you violate any of these restrictions and may be terminated by Cege Media at any time. Upon terminating your viewing of these materials or upon the termination of this license, you must destroy any downloaded materials in your possession whether in electronic or printed format.

3. Disclaimer

The materials on Cege Media 's website are provided on an 'as is' basis. Cege Media makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties including, without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights.

Further, Cege Media does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its website or otherwise relating to such materials or on any sites linked to this site.

4. Limitations

In no event shall Cege Media or its suppliers be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption) arising out of the use or inability to use the materials on Cege Media 's website, even if Cege Media or a Cege Media authorized representative has been notified orally or in writing of the possibility of such damage. Because some jurisdictions do not allow limitations on implied warranties, or limitations of liability for consequential or incidental damages, these limitations may not apply to you.

5. Accuracy of materials

The materials appearing on Cege Media 's website could include technical, typographical, or photographic errors. Cege Media does not warrant that any of the materials on its website are accurate, complete or current. Cege Media may make changes to the materials contained on its website at any time without notice. However Cege Media does not make any commitment to update the materials.

6. Links

Cege Media has not reviewed all of the sites linked to its website and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by Cege Media of the site. Use of any such linked website is at the user's own risk.

7. Modifications

Cege Media may revise these terms of service for its website at any time without notice. By using this website you are agreeing to be bound by the then current version of these terms of service.

8. Governing Law

These terms and conditions are governed by and construed in accordance with the laws of UT and you irrevocably submit to the exclusive jurisdiction of the courts in that State or location.

Privacy Policy

Last Update Jan 10, 2019

Thank you for visiting a Cege Media (“Company”) website. We respect your privacy in handling Personal Information relating to you and your use of any of our websites, including this one (“Website “). Company does business primarily in the United States, though it may have partners or providers who operated their businesses in Canada. “Personal Information” may include any information that can be used to identify or locate you, such as your name, address, IP address, mailing address, contact information, email address or phone number and other information you may produce to us. Personal Information is defined in both federal and state law in the United States, and in the laws of Canada. This Privacy Policy is intended to include the most expansive definition. However, please recognize that your rights related to Personal Information, and what Personal Information is, differs somewhat from state to state and country to country.For example, a California resident likely has different rights than a Utah resident, and each of them likely have different rights than a resident of Canada.

By using or accessing the Website in any way, or by transacting with Company through any other means, you acknowledge that you accept the practices and policies outlined in this Privacy Policy, and you hereby consent to our collection, use and disclosure of your information in the manner described herein.

Please read this Privacy Policy carefully in order to understand what information Company collects, and how Company uses that information. If you do not agree with the Privacy Policy, please do not use this Website or transact with the company in any way. We encourage you to check our Website frequently to see the current Privacy Policy and Terms and Conditions in effect and any changes that may have been made to them. If we make material changes to this Privacy Policy we will post the revised Privacy Policy and the revised effective date on this Website. If you use the Website after any changes to the Privacy Policy have been posted, this means you agree to all of the changes. This Privacy Policy is part of our Terms and Conditions. Please click here to see that agreement.

What We Collect and How We Collect It

We may collect Personal Information that you provide us when you access our website, transact with us through the website or otherwise, contact customer service, participate in a survey or promotion, participate in another feature of our Website that requires your Personal Information, provide us with comments, suggestions or content for testimonials, endorsements, social media and/or blog posts, and/or provide your information to third party marketing affiliates. We only collect information that is necessary for the purposes identified herein. Please note that we do not control the collection or use of your information by third parties who may provide it to us, and such is subject to their privacy policies.

Some of our data and information collection is completely transparent. This means that you will know when and how it is happening. We can only gather the information you voluntarily provide. If you object to or limit our processing of certain information of this nature, you may not be able to use all of the features of the Website, interact or transact with Company at all. By providing us with this information, you expressly agree to our collection, use, storage, and disclosure of it as explained in this Privacy Policy. This type of information includes, but is not necessarily limited to:

Preferences: Such as types of offers, products, policies and plans, or amounts of coverage in the context of insurance.

Other Personal Data: Such as gender, income range, general health information, date of birth.

Questions, Comments and Feedback: You have the ability to contact us with questions you may have, inquire about products or offers, request to be contacted, provide us with comments and or feedback about the Company and products. We will process any information you submit, post or provide in the course of such activities to respond to your comments or feedback.

Our collection of other data and information may happen without your express knowledge, but you hereby consent to it. This means that you will not necessarily know when and how it is happening. However, we can only gather the information through your voluntary interactions with us. If you object to, or limit our processing of certain information of this nature, you may not be able to use all of the features of the Website, interact or transact with Company at all. By providing us with this information, you expressly agree to our collection, use, storage, and disclosure of it as explained in this Privacy Policy. This type of information includes, but is not necessary limited to:

Information from Third Party Platforms:If you access the Website or communicate with us using your account or account credentials from a third-party owned or operated platform/service (e.g., Amazon, Apple, AWS, Facebook, Google, Twitter, etc.), post content from our Website to a social network, or use various social media features (e.g., “Like” button), we may process certain information from the third parties, such as your username, “likes”, location, birthday, comments and reviews, preferences, network reach and influence, and any other information you provided to the third parties in connection with your account. Depending on your account and privacy settings, we may also be able to see information that you post when using these third parties whether or not you are using our services. We may also collect Personal Information about you from our third party service providers who provide us with e-commerce and/or technical assistance associated with functionality and purposes of the Website. The information you post or provide to third parties, as well as the controls surrounding these disclosures are governed by the policies of these third parties.

Browsing Information, Logs, Device Information: When you visit our Website, we may process information about your activities on our Website through the use of technology such as cookies, web beacons, IP Address, and other tracking technologies, as further explained herein below. This information may contain personal information and statistical information. We may collect device-specific information (such as hardware model, operating system version, unique device identifiers, and mobile network Information, including your mobile phone number). We may record or log information from your Devices, their software, and your activity in accessing or using our Website. This information may include: IP address, device ID numbers, system activity, location preferences, date and time stamps of transactions. Providing this information is not mandatory and cookies can be disabled. However, please note that our Website may not offer the same functionalities when certain cookies or other tracking data are disabled.

A cookie is a tiny element of data that our Websites can send to your browser, which may then be stored on your hard drive so we can recognize your computer when you return. Cookies also assist with performance of various aspects of the Website. You may set your Web browser to notify you when you receive a cookie. However, should you decide not to accept cookies from our Website, you may limit the functionality we can provide when you visit our Website. Additional general information about cookies and how they work is available at www.allaboutcookies.org. More information regarding cookies is also provided at the end of this document.

A web beacon (also known as a “tracking pixel” or “clear GIF”) is a clear graphic image (typically a one-pixel tag) that is delivered through a web browser or HTML e-mail, typically in conjunction with a cookie. Web beacons allows us, for example, to monitor how users move from one page within our websites to another, to track access to our communications, to understand whether users have come to our websites from an online advertisement displayed on a third-party website, to measure how ads have been viewed, and to improve site performance.

If we are unable to associate the information collected from you or your devices to you, as some may be purely statistical or technical without any identifier or connection to you, such is not considered personal information for purposes of this Privacy Policy. For example, you may use a computer to navigate to the Website, and the Website may record an entry to the Website by a personal computer running Windows 10. This information has no direct link to you and cannot be associated with you and is therefore not considered Personal Information.

How We Use It

This Website has the primary purpose of generated sales leads that we share with, or sell to, third parties. With this purpose in mind, we may process your Personal Information (depending on your interaction with us) for any reason that is permitted under data protection laws and in accordance with this Privacy Policy. We will, and you grant us permission to, disclose your Personal Information to third parties as follows:

To sell to, or share with, interested third parties who may contact you with a sales purpose.

To sell to, or share with, third party data compilers who in turn share or sell the data to interested third parties who may contact you with a sales purpose.

If required or permitted to do so by law or if, in good faith, Company believes that such action is necessary to: (1) comply with the law or with legal process; (2) protect and defend Company’s rights and property or prevent fraud; (3) protect Company against abuse, misuse or unauthorized use Company’s products or services; (4) protect the personal safety or property of its personnel, users of the Website or the public, and/or (5) comply with tax reporting requirements. The servers that serve the Website automatically identify a computer by its IP address.

If the information is non-personal information (from which individuals cannot be identified, and which do not relate to individuals) in aggregate form, and the disclosure is for business purposes, such as consultants and advisors to Company.

If Company, in good faith, determines that you have used the service to menace, threaten, harass, intimidate or otherwise deceptively pose as another person, or in any other way in violation of law. Simply, if you attempt to use the Website for any unlawful means, you have no expectation of privacy.

If a third partyacquires all or substantially all of the assets of, or ownership interest in, Company whether by merger, acquisition, reorganization or otherwise, Company may transfer its database, including Personal Information contained therein, to the third party.

We would like to inform you of products and services, sales and special offers that might benefit you. When you register online, you may have the opportunity to sign up for e-mails and other electronic promotions (e.g., SMS and text messages) about our products, services, sales and special offers. If you would like to stop receiving such promotional information from Company, please follow the steps provided in Section 5 of this Privacy Policy.

We may also collect, use and disclose personal information you provide in order to contact you; respond to your inquiries and provide you with relevant information from time to time; provide services and products requested by you; administer or otherwise carry out our obligations in relation to any agreement you have with us; compile statistics for analytical and marketing purposes; and, any other purposes about which we inform you when we ask you for information.

Company also uses Personal Information to continually assess and improve the Website and the products and services we offer. To serve you better, we may combine the Personal Information that you give us with publicly available information and information we receive from or cross-reference with our marketing partners and others.

Some of our operations, such as website administration, technical support, and/or electronic commerce, may be managed by third parties unaffiliated with Company. These companies may share Personal Information with their affiliates and with service providers whom they engage to perform services related to our Website or the operation of our business.

How We Protect It

Company stores all information in state of the art cloud storage in association with AWS. In doing so, Company uses appropriate physical, organizational and technological measures to protect the personal information you provide to us against loss or theft, and unauthorized access, disclosure, copying, use, or modification. This includes limiting access on a “need-to-know” basis. However, no electronic data transmission can be guaranteed to be secure from access by unintended recipients and Company will not be responsible for any breach of security unless this breach is due to its own gross negligence. Although we are committed to employing reasonable technology in order to protect the security of our Website, even with the best technology, no website is 100% secure. In transacting with us through the website, you assume the risk inherent in transacting online.

This Privacy Policy only applies to Company and in particular, the Website. The Website may include links to the websites of our business partners, vendors and advertisers, as examples. These other sites are outside of our control. Please be aware that these websites may collect information about you, and operate according to their own privacy practices which may differ from those contained in this Privacy Policy. Company encourages users to be aware when you leave this Website and to read the privacy statements of each website you visit that collects personal information. While Company carefully chooses the websites to link to, this Privacy Policy applies solely to information collected on this Website.

As a general rule, we only maintain data for up to 2 years. However, we typically destroy all information related to you and our use of your personal information if you have failed to visit the Website and transact with company in a 1 year period.

Your Rights

If you wish to Opt-Out from any of the aforementioned uses of Personal Information, except in the case of Legal Proceedings, please contact us by clicking here. Your subsequent disclosure of Personal Information nullifies any prior Opt-Out request. Company does not discriminate against those who opt-out. However, opting out may prevent us from conveniently and efficiently providing further products, services and information to you.

Canadian Residents

This section applies to Canada resident only.

Your personal information may be transferred outside of Canada. Company and its service providers may store personal information on servers located in other jurisdictions, including the United States. Please note that privacy laws in such jurisdictions differ from Canadian privacy laws (e.g., PIPEDA) and that in some jurisdictions your personal information may be accessed by law enforcement authorities or the courts in such jurisdictions. You may obtain information and address questions about the Privacy Policy and practices relating to handling of your personal information outside of Canada by contacting our Privacy Officer identified below in Section 9.

If you wish to access your Personal Information, or request that your Personal Information be corrected or removed from our database, you may contact our Privacy Officer as outlined below. Company, within a commercially reasonable time, will provide access to this information, correct any factual inaccuracies identified, and remove information as requested. We may be unable to remove information to the extent that it is permitted or required to be retained by applicable law or document retention and data backup policies, or if removal is not practicable due to technological reasons. Removal of your personal information may prevent us from providing further services and information to you.

Company may require you to provide sufficient information to prove your identity prior to Company providing an account of the existence, use, and disclosure of your personal information. The information provided shall only be used for this purpose.

California Residents

This section applies to California residents only.

Pursuant to Section 1798.83 of the California Civil Code, residents of California have the right to request from a business, with whom the California resident has an established business relationship, certain information with respect to the types of personal information the business shares with third parties for direct marketing purposes by such third party and the identities of the third parties with whom the business has shared such information during the immediately preceding calendar year. To request such information from Company, please contact us by email at [email protected], subject line “Shine the Light”, call toll free [INSERT TOLL FREE TELEPHONE NUMBER] or write to us at the address listed in Section 8 below.

Beginning January 1, 2020, pursuant to 1798.100 et seq. of the California Civil Code, residents of California may request that a business that collects a California resident’s personal information disclose certain categories and specific pieces of personal information collected, as permitted under California Consumer Privacy Act. The resident may also request that the business delete personal information collected about the consumer or request the Company not sell the information. To make a request pursuant to the foregoing, you can contact us by email at [email protected], subject line “CCPA”, call toll free [INSERT TOLL FREE TELEPHONE NUMBER] or write to us at the address listed in Section 8 below.

If you are a California resident and do not want us to sell your Personal Information, do not share it with us, or, if you have, click the following DO NOT SELL MY PERSONAL INFORMATION, or click the same link which is found on the homepage. Further, if you wish to Opt-Out from any of Company’s uses of your Personal Information as set forth herein, except in the case of Legal Proceedings, please click here.

In you exercise any of the foregoing rights, Company may require you to provide sufficient information to prove your identity and residence prior to Company taking action. The information provided shall only be used for this purpose.

Children

The Website is not intended or designed to be used by anyone under the age of 13. It is not meant to be attractive to anyone under the age of 13, or to have any value or use by anyone under the age of 13. Company does not collect Personal Information from any person it knows to be under the age of 13. If you are under 13, DO NOT TRANSACT WITH US THROUGH THIS WEBSITE OR OTHERWISE, AND DO NOT SEND ANY PERSONAL INFORMATION. IF YOU ARE BETWEEN THE AGES OF 13 AND 17, DO NOT USE THIS WEBSITE UNLESS YOU ARE SUPERVISED BY A PARENT/GUARDIAN OR HAVE RECEIVED PERMISSION FROM YOUR PARENT/GUARDIAN.

Contact Info

If you have any questions about this Privacy Policy, this Website or its offerings, or if you have questions or concerns about the collection, use, disclosure, amendment or deletion of your Personal Information, you may contact us online at [email protected], subject line “Privacy Policy” or at the following address:

Cege Media

Attention: Privacy Officer

2257 S 110 E., Suite 204

Salt Lake City, Utah 84106

Toll Free: ___

Cookies

Cookies make the use of our Website easier by, among other things, saving your preferences. We may also use cookies to deliver content tailored to your interests. Our cookies may enable us to relate your use of the Website to Personal Information that you previously provided.

The information that we collect with cookies allows us to statistically analyze usage of the Services, and to improve and customize our content and other offerings. However, we only disclose information collected with cookies to third parties on an aggregated basis without the use of any information that personally identifies you.

The specific types of first party and third party cookies placed by our Services and the purposes they perform are described in the table below:

Types of cookies

How to refuse

Strictly Necessary Cookies These are cookies that are required for the operation of our Services. They include, for example, cookies that enable you to log into secure areas of our websites, use a shopping cart or make use of e-billing.

These cookies are strictly necessary to deliver the Site and therefore cannot be refused. They can be deleted or blocked using your browser settings, however (see How to Control Cookies, below).

Performance and Functionality Cookies These are used to recognize you when you return to our Services. This enables us to personalize our content for you and remember your preferences (for example, your choice of language or region), but are non-essential to the performance of our Services.

These cookies can be deleted or blocked using your browser settings (see How to Control Cookies, below).

Analytical or Customization Cookies These cookies collect information about how users access and move through our Services. We use this information in either aggregate form to help us to improve the way our Services work, or to personalize our Services to your interests.

These cookies can be deleted or blocked using your browser settings (see How to Control Cookies, below). Alternatively, please follow the links below to review the third party’s privacy policy or to opt-out: Google Universal Analytics https://tools.google.com/dlpage/gaoptout

Social Media Cookies These cookies allow us to integrate social media functions into our Services and may also be used for advertising purposes.

These cookies can be deleted or blocked using your browser settings (see How to Control Cookies, below). Alternatively, please follow the links below to opt-out: Facebook https://www.facebook.com/ads/settings